User:KensingtonKing/Kensington Corridor Trust
| Formation | September 2019 |
|---|---|
| Type | Neighborhood Land Trust |
| Headquarters | Kensington, PA |
Executive Director | Adriana Abizadeh |
| Website | https://kensingtoncorridortrust.org/ |
Kensington Corridor Trust is a non-profit neighborhood land trust located in the Kensington neighborhood of Philadelphia, Pennsylvania, United States. Founded in September 2019[1] in a partnership between four separate Philadelphia based organizations[2], KCT is one of the first neighborhood land trusts in the United States[3]. The trust utilizes the neighborhood land trust or steward-ownership model[2] where it buys commercial and residential properties for the neighborhood along Kensington Avenue from Lehigh Avenue to Glenwood Avenue – the “Corridor”.[4] By buying and stewarding land for the community, the trust takes it out of the speculative market and seeks to preserve affordability in a rapidly gentrifying section of the city[5] , provide the community with control, prevent wealth extraction, and foster local entrepreneurship.[2][6]
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References
[edit]- ^ Darnell, Casey (Jun 23, 2020). "Kensington nonprofit plans $20M campaign to acquire, redevelop blighted properties". www.bizjournals.com. Retrieved 2022-06-27.
- ^ a b c "Philly's Kensington Corridor Is Taking Back Power Over Economic Development". nextcity.org. Retrieved 2022-06-27.
- ^ "Kensington Corridor Trust Episode 1: Moving Beyond "Congenial Partnership"". Purpose. Retrieved 2022-06-27.
- ^ Arvedlund, Erin (October 10, 2021). "Investing in racial opportunity". The Philadelphia Inquirer. pp. A14.
{{cite news}}:|access-date=requires|url=(help) - ^ "New Real Estate Trust Wants Troubled Philly Community to Shape Its Own Economic Development". nextcity.org. Retrieved 2022-06-27.
- ^ "About". Kensington Corridor Trust. Retrieved 2022-06-27.